NatWest and IBM have announced enhancements to the bank’s virtual assistant, Cora. It will now use generative AI to provide customers with access to a wider range of information through conversational interactions. The bank will be among the first in the UK to deploy generative AI with a virtual assistant enabling a safe, intuitive and accessible experience in its digital services.
Harnessing the power of responsible and ethical AI forms part of the bank’s wider strategy, collaborating with IBM and other experts to help customers achieve financial wellbeing through personalised support. By leveraging IBM’s AI and data platform, watsonx, teams are co-creating a digital concierge (Cora+) that evolves the chatbot’s capability into a more interactive and conversational experience, where this benefits customers.
Go deeper with GlobalData
This capability has been designed to provide a more accessible and human interaction for customers looking to compare products and services across the product suite, or who are looking for information across the NatWest Group websites.
Cora+ will be able to access information from multiple secure sources that were previously inaccessible through chat alone, such as products, services, information about the bank and career opportunities. Customers can ask questions and receive responses in a more natural, conversational style and are provided with links to requested information, which they can either view immediately or bookmark for later. Customers will continue to have the option to speak on the phone with branch representatives during business hours.
IBM Client Engineering team and NatWest business and technology teams unite for the project
Wendy Redshaw, Chief Digital Information Officer of the NatWest Group’s Retail Bank said: “We are a relationship bank in a digital world, building trusted, long-term relationships with our customers through meaningful and personalised engagement. Building on Cora’s success over the last five years, we’re working with companies like IBM to leverage the latest generative AI innovations that will help make Cora feel even more ‘human’ and, most importantly, a trusted, safe and reliable digital partner for our customers.”
To accelerate the pace of innovation and delivery, the IBM Client Engineering team worked alongside the NatWest business and technology teams to rapidly co-create, test, and validate the outcomes with the aim of safely and swiftly delivering a viable generative AI digital assistant.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataJohn Duigenan, Distinguished Engineer and General Manager Global Financial Services Industry at IBM commented: “NatWest and other forward-thinking leaders of financial institutions around the world are exploring the potential of AI technologies as part of their competitive business strategy. With the appropriate guardrails and governance in place ensuring that AI is open, trusted and targeted, banks can deliver an empowering value proposition enabling an even deeper level of customer loyalty. We’re excited about the opportunity to collaborate with NatWest on their vision for customer care.”
